Shepherd Smith Edwards and Kantas Represent CB Life Annuity Investors Against Broker-Dealers. Thousands of Retirees’ Assets Remain Frozen in Colorado Banker’s Life Insurance Annuity Policies
If you are an investor who has been waiting a number of years to get your money back from a CB Life annuity issued by Colorado Bankers Life Insurance, know that this could be a futile attempt. Not only have your assets been frozen for some time, but also the insurer remains in rehabilitation with liquidation proceedings continuing to be delayed. Meanwhile, owner Greg Lindberg has been charged with allegedly defrauding policyholders of $2B. He also, according to a new court filing he submitted in litigation against him and his companies, owes at least $1.9B to creditors. As Shepherd Smith Edwards and Kantas Annuity Loss Law Firm (investorlawyers.com) Senior Partner and annuity fraud loss attorney Kirk Smith said in a recent Wall Street Journal article, rather than wait for years to get back who knows how much, if anything at all, from Colorado Bankers Life Insurance, CB Life annuity investors may want to explore other legal options.
Already, we are representing a number of CB Life annuity investors, many of them retirees, in pursuing damages from the broker-dealers that allegedly unsuitably marketed and sold them these investments. This includes broker fraud claims brought against Citizens Securities, which is currently under investigation by Massachusetts regulators for its sale of these particular annuity policies.
Our clients include a novice Virginia investor who is suing Citizens Securities for up to $500K in damages. She placed all of the money from her pension fund in a CB Life annuity at the recommendation of her broker. In fact, this high-risk, high-commission investment was the only recommendation made to her. Meantime, she was never apprised of the actual risks or notified when Lindberg was first indicted for fraud in 2019. Also, her Citizens Securities broker did not tell her when CB Life annuity policyholders briefly had a chance to withdraw up to $15K without having to pay a penalty that year.
Our Annuity Loss Lawyers Have Filed Over 100 FINRA Lawsuits Against Brokers That Sold Lindberg-Issued Annuities
Since 2020, the Shepherd Smith Edwards and Kantas Annuity Loss Law Firm have been going after the many brokerage firms that allegedly unsuitably sold annuity policies from Lindberg insurers both in the US and Bermuda. This has resulted in over 100 broker fraud lawsuits filed on behalf of both American investors and foreign nationals.
By now, our Annuity Loss Law Firm has conducted many hours of discovery into how Colorado Bankers Life Insurance and other Lindberg insurers failed and why so many brokerage firms should be held liable. Should we agree to work together, you will become a part of a unit of claims represented by our entire broker fraud law firm. With a combined over a century’s experience in securities law and the securities industry, we have the skills, resources, and knowledge to provide you with the quality legal representation you need to fight for the damages you are owed.
More than 90% percent of our clients—we are talking thousands of investors—have received full or partial financial recovery with our help.
How To Contact Our Savvy CB Life Annuity Loss Law Firm: